At the beginning of the year, Deutz announced the sale of its subsidiary Torqeedo to Yamaha. The sale has now been completed.
The Bavarian company Torqeedo, which specialises in electric drives, has now announced the completion of the takeover by Yamaha Motor. The completion of the share purchase agreement with the German engine manufacturer Deutz, the previous owner of Torqeedo, marks a milestone in Yamaha Motor’s Marine CASE Strategy 2024, which aims to achieve carbon neutrality in the marine industry and includes the development of an electric propulsion line, it was announced today on the occasion of the completion of the sale.
“With Yamaha Motor, we have a strong strategic partner at our side to jointly advance electromobility on the water. This merger offers us new opportunities to further consolidate our leading position in the growing market for electric boat motors and to jointly shape the future of boating in a sustainable way,” says Fabian Bez, CEO of Torqeedo.
Torqeedo supports Yamaha’s decarbonization strategy
With the acquisition, Yamaha Motor is entering the dynamic electromobility market. By implementing its Marine CASE Strategy in 2024, Yamaha Motor is striving to increase its competitiveness and accelerate the decarbonization of shipping. In the future, the Japanese company can count on Torqeedo’s expertise to meet the ever-increasing demand for electric and hybrid propulsion systems.
“With the acquisition of Torqeedo, the global market leader for electric mobility on the water, we are taking the next step in our Marine CASE Strategy for 2024. Torqeedo’s years of expertise will provide us with competent support in driving the electrification of our marine applications to make an important contribution to a zero-emission shipping industry,” says Toshiaki Ibata, Senior Executive Officer, Chief Director of Marine Business Operations Yamaha Motor.
Torqeedo has nearly two decades of experience and more than 250 patents for electric motors, propellers and electrical systems, as well as series production facilities and extensive research resources, which the company now intends to use to jointly develop boat engines with Yamaha Motor.
